how much dynamic range is needed

I often read that the Nikon 1 system doesn't have enough dynamic range. Those comments always make me wonder how much dynamic range people need or want and what they do with it if they have a camera that has a lot more than the V1.

Take this picture for example. Taken in bright midday sun, a lot of shadow areas but there is detail in the shadows and the highlights in the clouds aren't blown (I could have exposed it a bit brighter without blowing the highlight). I expose for the highlight in such situations. Normally I would apply more contrast in the shadow areas as I like dark shadows.

V1, 10mm at f/2.8, ISO 100, 1/4000 s (manual exposure everything)

Everybody has different preferences. Maybe we could start a friendly conversation about how much dynamic range we need and use. Maybe with example images to show where the dynamic range is enough or not enough.